Former House Speaker Newt Gingrich called Karl Rove's new super PAC is "a dangerous model" that could harm the "long-term health of our society" in an interview that was broadcast live today, Feb. 20, 2013, on CBS THIS MORNING on the CBS Television Network (7:00 AM – 9:00 AM). Watch the appearance in full below!

Gingrich told co-hosts Charlie Rose and Gayle King, "The Obama campaign today is about eight years or 10 years ahead of the Republican Party in a very fundamental effort to understand the country," adding that as a result, the Republican Party is "going to be non-competitive at the presidential level."

Excerpts of the interview are below:

CHARLIE ROSE: You have said that billionaires and strategists should not be picking candidates and that they may have too much influence. Who are you talking about, and what did you mean?

Newt Gingrich: Well, look, I was very specific with saying that the – in a newsletter that people can get at GingrichProductions.com – that the idea that Karl Rove has of creating some super PAC to go out and basically pick Republican Senate nominees, for example, is a terrible idea. We don't want to become a party in which a handful of political bosses gather up money from billionaires in order to destroy the candidates they don't like and that's what you're talking about. When you get involved in these kind of primary fights it's almost all negative advertising and it's all by outsiders. I think this is a very dangerous model. The fact is, last year we lost nine U.S. Senate races we could have won. There's some very deep rethinking we need to do as a party, but it isn't gathering up more money by Washington consultants for them to try to hand-pick, across all 50 states, the people they think should be in the U.S. Senate.